Makeup Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Is the Expected CAGR for the Makeup Market Through 2025?
In recent times, the makeup market has seen significant growth. The market will expand from $37.6 billion in 2024 to $40.1 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%. The past growth can be credited to factors like the impact of social media, current fashion trends, the role of film and television, beauty bloggers and influencers, advancements in technology, and cultural diversity.

What's the Projected Size of the Global Makeup Market by 2029?
In the coming years, the makeup market is anticipated to experience consistent growth, reaching $48.2 billion in 2029, with a compound annual growth rate (CAGR) of 4.7%. This expansion during the forecast period can be ascribed to the emergence of the male makeup market, evolving fashion industry trends, sustained growth in online makeup sales, digital beauty platforms, subscription models, and alliances between makeup brands and social media influencers. Key trends expected in the forecast period encompass innovative clean beauty products, multi-purpose makeup items, virtual try-on technologies, traditional beauty standards, and catering to a broader audience.

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Top Growth Drivers in the Makeup Industry: What's Accelerating the Market?
The anticipated increase in the e-commerce sector is likely to push the expansion of the makeup market. E-commerce, which encompasses the digital trading of goods and services, is experiencing a surge in the makeup market symbolized by skyrocketing sales. This is due to the ease and extensive variety of available products. This virtual platform for buying cosmetics offers an extensive selection and gives consumers worldwide reach. To illustrate, in November 2023, the Department of Commerce's Census Bureau, a government entity in the US, reported that the projected retail e-commerce sales for the third quarter of 2023 amounted to $271.7 billion. This reflected a rise of 0.9% (±0.4%) from the second quarter of the same year. E-commerce sales saw a significant 7.8% (±1.2%) rise in the third quarter of 2023, compared to the same period in the previous year, surpassing the 2.0% (±0.4%) growth rate seen in overall retail sales in that quarter. E-commerce sales made up 14.9% of all sales in the third quarter of 2023. Consequently, the escalation of the e-commerce sector is believed to elevate the makeup market's expansion moving forward.

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What Trends Will Shape the Makeup Market Through 2029 and Beyond?
Leading businesses in the makeup market have shifted their attention towards the development of innovative products - especially in the realm of complexion products - to maintain an edge in a competitive landscape. Complexion products, including foundation, concealer, and tinted moisturizers, are cosmetics engineered to improve and balance skin tone. They aim to give users a more consistent, smoother skin texture. An excellent example is the UK based cosmetics company, Makeup Revolution, which unveiled two new complexion products, the Skin Silk Serum Foundation and the Bright Light Face Glow, in January 2024. The Skin Silk Serum Foundation, a lightweight, breathable foundation available in 20 shades, is enhanced with hyaluronic acid and peptides. These ingredients foster a soft, hydrated skin texture, stimulate collagen production, and brighten, tighten and moisturize the skin. This foundation possesses a radiant satin finish that gently blurs blemishes, letting the skin truly stand out. It offers flexibility with its coverage, which can be subtly applied or layered for an effect akin to a second skin.

What Are the Main Segments in the Makeup Market?
The makeup market covered in this report is segmented -

1) By Product: Foundation, Concealer, Powder, Primer
2) By Application: Area, Lips, Eyes, Face, Nails
3) By Distribution Channel: Online, Offline

Subsegments:
1) By Foundation: Liquid Foundation, Powder Foundation, Cream Foundation, Stick Foundation, Cushion Foundation, Mousse Foundation, Tinted Moisturizers
2) By Concealer: Liquid Concealer, Stick Concealer, Cream Concealer, Pencil Concealer, Color Correcting Concealers
3) By Powder: Loose Powder, Pressed Powder, Setting Powder, Translucent Powder, Finishing Powder
4) By Primer: Mattifying Primer, Hydrating Primer, Pore-Minimizing Primer, Illuminating Primer, Colour-Correcting Primer, Smoothing Primer

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Which Top Companies are Driving Growth in the Makeup Market?
Major companies operating in the makeup market are LVMH (Moët Hennessy Louis Vuitton), Procter & Gamble (P&G), L'Oréal Paris, Morphe Cosmetics, Unilever, Estée Lauder Companies Inc., Kao Corporation, Shiseido Co. Ltd., Coty Inc., Amorepacific Corporation, Mary Kay Inc., Avon Products Inc., Maybelline, Revlon Inc., Elizabeth Arden, Urban Decay, Anastasia Beverly Hills, Huda Beauty, Laura Mercier, ColourPop Cosmetics, Too Faced Cosmetics, MAC Cosmetics, Bobbi Brown Cosmetics, Clinique

Which Regions Will Dominate the Makeup Market Through 2029?
Asia-Pacific was the largest region in the makeup market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the makeup market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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